Country eyes investors as it lays groundwork for new manufacturing opportunities
Jordan’s bid to reduce its budget deficit by bringing the private sector on board for its development projects is explored in a wide-ranging report just published by Oxford Business Group (OBG).
The Report: Jordan 2010 provides comprehensive coverage of the government’s plans to rein in expenditure and drive forward its key projects, such as the relocation of Aqaba Port, by embarking on a series of public-private partnerships. It also charts the incentives which are being considered to attract more businesses to Jordan’s industrial zones as the country looks to tap investment for higher-value-added areas of manufacturing.
The global publishing, research and consultancy firm’s report includes a detailed, sector-by-sector guide for investors, together with a wide range of interviews with the country’s most prominent political, economic and business leaders, including Prime Minister Samir Rifai, Minister of Finance Mohammad Abu Hammour, the Governor of the Central Bank of Jordan Umayya Toukan and the Chairman of the Board of Trustees of Princess Sumaya University for Technology, HRH Sumaya bint El Hassan.
High profile international personalities, such as the Prime Minister of France, François Fillon; Canada’s Minister for International Trade, Peter Van Loan and the CEO of HSBC Middle East, Simon Cooper also give their views on Jordan’s economic development.
As the country looks to boost exports and cut its trade deficit, The Report: Jordan 2010 analyses the steps that the government is taking to help local companies, which include tapping new markets and improving product quality.
The new report also explores the significant developments taking place in Jordan’s energy sector which are driven by the government’s aim to meet growing demand while reducing its import bill. OBG’s publication analyses the move to increase private sector involvement as Jordan looks to diversify its energy mix by stepping up gas exploration and production and targeting renewable energy.
The Report: Jordan 2010 also puts Jordan’s bourse under the microscope, providing comprehensive coverage of the increased activity it has enjoyed despite volatility. The publication charts the progress made following the authorities’ move to upgrade infrastructure at the bourse and provides detailed analysis of the steps being taken to attract more investors, which include offering new products and enhancing transparency.
OBG’s new report maps out the increasingly significant role that Aqaba is playing in Jordan’s economic expansion. Readers are given an in-depth analysis of the positive impact that the seaport’s relocation is set to have on infrastructure, together with an insight into how the key logistics hub has evolved to become central to Jordan’s tourism and real estate sectors.
The Report: Jordan 2010 has been produced in partnership with the Jordan Investment Board and the Amman Chamber of Commerce. Contributions have also been made by Arab Bank as OBG’s banking partner, AB-Invest as partner for capital markets, Ernst and Young as OBG’s accountancy partner and Ali Sharif Zu’bi Advocates and Legal Consultants as legal partner.
Paulius Kuncinas, OBG’s Regional Editor for the Levant and Southeast Asia, said that Jordan’s bid to drive growth by teaming up with the private sector for key projects while helping local businesses to source new export markets bode well for its economic development. “The non-hydrocarbons side of Jordan’s economy has produced promising results despite the downturn, with food processing and pharmaceuticals recording steady growth,” he said. “It is to Jordan’s credit that GDP growth is expected to accelerate during 2010.”
He added that with further incentives under consideration aimed at attracting investors to the country’s industrial estates and special economic zones, the scene was being set for the country to make the move into higher-value-added production. “I am confident that our new report reflects Jordan’s steady economic development which is being carefully balanced against the government’s determination to reduce its deficit,” said Kuncinas.
Diana Reinhart, OBG’s Country Director in Jordan, paid tribute to the Group’s partners, saying that their contribution had undoubtedly enhanced The Report: Jordan 2010. “Oxford Business Group has long recognised the importance of teaming up with local players who are leaders in their fields,” she said. “By sharing their expertise and experience with our editorial and research team, our partners have ensured that OBG’s new report, which marks our eighth business guide on Jordan’s economic activity, will act as a vital tool for members of the international business community when they come to make their investment decisions.”
The Report: Jordan 2010 marks the culmination of more than six months of field research by a team of analysts from OBG, assessing trends and developments in all major sectors of the economy, including energy, industry, finance, banking, tourism, transport and real estate. It will be available in print form and online.